Wednesday, August 14, 2019

15 August 2019 BMD

We are expanding to global markets. See next article for the trade plan.

LOCAL MARKET


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FKLI 

FKLI opened higher yesterday due to the recovery in the overnight Dow, but the market then was rather flat for almost the whole day whereby the full day range was only 12-points. Today, the market could run the opposite way as the Dow plunged 800-points last night. Buyers are asked to be cautious and cut their losses if necessary.

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Plan A : Continue to hold short if market stays below 1596
Plan B : Cut above 1601
Plan C : Consider buying if market tested and rebounds from 1573
Plan D : Cut below 1569


FCPO

FCPO rebounded to 2220 this morning, later pressurized by the seller before the first session close. Dalian and soybean oil are slightly positive while Ringgit stays weak at RM4.19 against the greenback.
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Afternoon Plan

Plan A : Sell if market failed to support above 2196. Targets are 2183 and 2165.
Plan B : Buy only if market supported above 2196. Targets are 2209 and 2222.
Plan C : Above 2202, do not enter.
Plan D : Below 2190, do not enter.




Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Market Watch and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the r.isks, consequences and suitability of that investment.

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